This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
A preliminary investigation has found that:
Three VIP users sold ACT token worth approximately 514,000 USDT on the Binance spot market,
A non-VIP user transferred a large amount of ACT into their account and then sold approximately 540,000 USDT worth of ACT on the Binance spot market.
The ACT price drops resulted in liquidation of some users' futures positions and led to declines in other low market cap tokens as well. We are currently conducting further investigation on reasons for the other token declines. So far, we have not identified any single account which made significant profits from this incident. As the ACT token’s supply is already fully circulating on the secondary market, Binance cannot restrict or intervene in users' selling behaviors. However, please rest assured that we will continue to investigate this incident, and will provide further updates if there are any new developments.
Binance regularly adjusts the leverage levels of all futures trading pairs based on liquidity, market sentiment, and trading volume. To proactively prevent potential volatility and risks, we have taken precautionary measures to lower the leverage of ACTUSDT USDⓈ-M perpetual contract and there were no market anomalies during the adjustments.
Market makers are an important part of the ecosystem, and Binance provides a comprehensive market maker program to incentivize more market makers to join Binance and enhance market liquidity.
Given the recent significant market volatility and to mitigate against risks for user protection, Binance will continue to adjust different pairs’ leverage based on market conditions. Binance wishes to take this opportunity to remind all users to adopt appropriate risk management measures when trading with digital assets.
Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Thank you for your support!
Binance Team
2025-04-01
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.
